Why isn't Turbo Tax Calculating my maximum SEP contribution correctly?

[rainescape]

When I check maximize to contribute the maximum SEP contribution for 2021 it is understating the amount.  It should be calculating 25% of my self-employment income.

[Bsch4477]

It’s actually 20%. Read discussion here:

https://www.google.com/amp/s/ttlc.intuit.com/community/retirement/discussion/sep-contributions/00/21...

[JohnW152]

It’s possible that you’re not looking at the correct self-employment income amount.  

According to Deduction Limit for Self-Employed Individuals in the IRS’ 2021 Publication 560: 

When figuring the deduction for contributions made to your own SEP-IRA, compensation is your net earnings from self-employment (defined in chapter 1), which takes into account both the following deductions. 

• The deduction for the deductible part of your self-employment tax.

• The deduction for contributions to your own SEP-IRA.

When you’re considering the amount of your self-employment income, you’re probably not taking one or both of these into account.